JAKARTA – Fabio Ferraz, Commissioner of PT Vale Indonesia Tbk (INCO), has submitted his resignation after holding the position since 19 January 2022. He is the second person on the INCO board of commissioners to resign in the past two months.

Wiwik Wahyuni, Corporate Secretary of INCO, stated that the company received Fabio Ferraz’s resignation letter yesterday (19/2). "The company will seek approval for the resignation at the upcoming General Meeting of Shareholders (GMS)," she said, quoted on Thursday (20/2).

Fabio’s resignation follows that of Raden Sukhyar, INCO's Independent Commissioner, who resigned on 19 December 2024. Fabio was born in São Paulo on 10 November 1967. Since 2018, he has held the position of Head of Mergers and Acquisitions (M&A) and Joint Ventures at Vale S.A.

Fabio earned a Bachelor of Business Administration from Fundação Getulio Vargas in 1990 and a Master of Business Administration from the University of Michigan in 1994. (LK/ZH)